Meet a competitor? PPG raised its bid for Dregurira to nearly $10 billion

On January 5th PPG Industries, Inc. and Tikkurila Oyj jointly announced that they had signed a new agreement to make changes to the previously announced merger agreement.
the changes, PPG raised its offer for Mr DiGurira from 25 euros to 27.75 euros per share, and the total price increased from 1.1 billion euros to 1.24 billion euros (including debt, etc.).
according to the new announcement, the increase was due to a proposal received by DiGurilla regarding a competitive offer, but no details were given in the announcement as to where the competition proposal came from and how competitive it

. After PPG raised its offer price, DiGuilla's board unanimously decided to recommend that its shareholders accept the new offer;
both companies expect that all offer to issue shares will begin around January 15, at which point PPG will issue a detailed offer document and then implement the acquisition within two months, unless the relevant matters need to be extended. As a result, the parties expect to complete the acquisition in the second quarter of 2021.
founded in 1862 and headquartered in Vantaa, Finland. It is a leading manufacturer and distributor of decorative coatings in 11 countries and territories around the world, with more than 80% of its revenues coming from Finland, Sweden, Russia, Poland and the Baltic States. The company's well-known brands include Tikkurila, ALCRO and Beckers. In addition, DiGurilla's industrial coatings business covers end-user areas such as wood paints and protective coatings. The company currently employs about 2,700 people worldwide and will have sales of approximately 564 million euros in 2019. The company is listed on NASDAQ Helsinki.
In addition to DiGurilla, PPG has also been in action recently: on January
5, 2021, PPG announced that it had reached a final agreement to acquire VersaFlex, a manufacturer specializing in the production of polyurethane, epoxy and polyurethane coatings for water and wastewater infrastructure, flooring, transportation infrastructure and industrial applications.
November 30, 2020, PPG announced that it had reached a final agreement to acquire Ennis-Flint in a deal valued at $1.15 billion a month. Ennis-Flint is a global paint manufacturer with a broad portfolio of road marking products, including coatings, thermoplastics and other advanced transportation technologies.
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